Quantcast
Home / Columnists / Kass (page 15)

Not greener over the septic tank (access required)

When we sold our home in Wisconsin the septic system inspector noted the "septic drain field mottling" was too close to the top of the ground. In his report, he noted the septic system was operating properly but probably would not pass inspection. The buyer wanted us to replace the field with an engineered system.

Read More »

Stuck in a reverse-mortgage mess (access required)

My husband took out a reverse mortgage in 2005. I was 58 and he was 62 at the time. I had to give him a quitclaim deed, and later I was put back on the deed. We have contacted our lender and asked if I could be put on the reverse mortgage or refinance it. They said no to both. We have tried to refinance with other companies, but were told we would have to come up with at least $30,000 to do this!

Read More »

Say “Hello” to HELOC (access required)

I have about $40,000 left on my 15-year fixed mortgage at 4 percent interest. I owe about $13,000 on a home equity line that is 2.99 percent variable rate. I have a $100,000 equity line open. I have no other debt. I am considering paying off my remaining mortgage with the lower-interest home equity line. Do you think that is a good idea since I am giving up a fixed rate for a variable rate?

Read More »

PMI-cancellation tips (access required)

We purchased our home a year ago for $153,000 and put $16,000 cash down. PMI was required. I want to end the PMI as soon as possible and understand that the home equity must reach a certain point (the agent said after two years we could try to get it canceled).

Read More »

Mortgage relief extended (access required)

On Jan. 2, President Obama signed into law the legislation designed to avoid the so-called "fiscal cliff." Included in the law was an extension of the law that helps homeowners whose property has been foreclosed from having to pay income tax on the debt that they no longer have to pay.

Read More »

Time share can be time-suck (access required)

My time-share maintenance fees exceed $2,000 per year. While this does not cause a real hardship on me, I was wondering what happens to the time share ownership if the primary deed owner dies. When I die — I'm 80 now — I assume the time share points go into my estate. And, if they do, does that obligate my heirs to continue to pay the annual maintenance fees in perpetuity?

Read More »

What to know when paying off the mortgage (access required)

I will be soon paying off, in its entirety, the mortgage on my home. For your information, I have been current on my payments throughout the 10-year term. The mortgage company is a credit union, and I intend to continue residing in my home. Upon full and complete payment of all that is due on my part, is the mortgage company obliged to record a release of the mortgage (deed of trust) in the land registry of the county or execute a promissory note release? What can/should I expect from the mortgage company in proof of the full and complete payoff?

Read More »

Beware when signing Form 4506 (access required)

I understand that when homebuyers sign closing documents, they are routinely required to sign a blanket form allowing the lender to access IRS records with no time limit. The form says not to sign it unless dates are specified on the form, but lenders routinely insist they be signed without any specification as to which years of IRS records are covered.

Read More »
Scroll To Top